RWA Project MANTRA: A rise of 64 times in one year, expanding business layout in the Middle East

MANTRA, as a Layer 1 blockchain project for the tokenization of real-world assets (RWA), recently announced an agreement with Dubai's DAMAC Group to tokenize at least $1 billion in assets for the group in the UAE. This move marks MANTRA's continued expansion in the RWA space.

In the past year, MANTRA (OM) has performed remarkably. Data shows that from January 1, 2024, to December 25, 2024, MANTRA's annual rise reached 6418.3%, with the price increasing from $0.0584 to $3.81, making it the best performer among RWA investment projects in 2024.

John Mullin, the co-founder and CEO of MANTRA, believes that DAMAC's support reflects a strong confidence in the future of RWA tokenization. DAMAC is a well-known real estate developer with operations spanning various sectors including real estate, capital markets, hospitality and resorts, manufacturing, dining, high-end fashion, and data centers.

The newly reached agreement aims to provide token-based financing for DAMAC's portfolio companies, involving sectors such as real estate, hospitality, and data centers. This collaboration is expected to enhance the accessibility of investments and simplify the process, with asset tokenization work scheduled to begin in early 2025.

Currently, MANTRA's business spans regions such as Hong Kong and Singapore, but the main operational focus is concentrated in the Middle East, particularly in Dubai. Previously, MANTRA also reached an agreement with the developer MAG Property Development to tokenize real estate assets valued at $500 million, with the first project starting from a residential project in Dubai.

2024 is a key year for MANTRA's development. In March, MANTRA completed a $11 million financing round led by Shorooq Partners. Two months later, it received a strategic investment from a digital asset company. On October 23, MANTRA's mainnet officially launched, allowing users to perform token bridging, staking, and other operations.

MANTRA has developed a complete set of RWA tools, including Digital Identity (DID), Compliance System MANTRA Guard, Token Management System MTS, Decentralized Exchange (DEX), and Liquidity Efficient Emission Protocol (LEEP). These modules work together to ensure that RWA tokenized assets can be effectively managed and flowed within a compliance framework.

Looking to the future, Mullin proposed a three-stage development strategy for the RWA sector. Currently in the first stage, the focus is on bringing high-quality assets onto the blockchain. The second stage will emphasize liquidity and secondary market development, while the final stage will be dedicated to achieving the composability of RWA, allowing it to be used across different DeFi applications.

Mullin stated: "Our goal is to reach $100 billion in RWA TVL by the end of 2026. Although progress is currently slow, we are attracting new funds, new capital, and new participants into this field. Over time, this will create a snowball effect, ultimately pushing us to a leading position in RWA."

The collaboration between MANTRA and DAMAC marks the further application of blockchain technology in the tokenization of real estate in the Middle East, bringing new opportunities to the RWA sector. MANTRA's continuous expansion in the RWA field demonstrates its formidable strength, and whether it can become a leader in RWA is worth ongoing attention.